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25th Congress, 
2d Session. 


[ SENATE. ] 


r«6] 


W.'S. 

u/V : V "■ Pl ' ”• ' ■' ■ 


REPORT 

FROM 

THE SECRETARY OP WAR. 

IN COMPLIANCE 

With a resolution of the Senate of the 30 th March last , in relation to the 
investment of money belonging to the Indians. 


May 10, 1838. 

Read, and ordered to be printed. 


Department of War, 

f May 8, 1838. 

Sir: The enclosed report of the Commissioner of Indian Affairs, and 
I accompanying documents, are respectfully transmitted, in reply to the reso¬ 
lution of the Senate of the 30th March last, requiring various kinds of in¬ 
formation in reference to money belonging to Indians. 

Very respectfully, 

Your most obedient servant, 

S. COOPER, 

Acting Secretary of War. 

lion. R. M. Johnson, 

President of the Senate. 


War Department, 

Office of Indian Affairs , May 3, 1838. 

Sir : In compliance with the requirements of the resolution of the Sen¬ 
ate of the 30th of March, I have the honor to lay before you a detailed 
statement of all investments in stocks on account of Indians, their cost, 
and other particulars, so far as they have been made by, or under the con¬ 
trol of, this department. I also lay before you the copy of a communica¬ 
tion from the honorable Secretary of the Treasury, giving an account of 
the investment of the national fund of the Chickasaws, which that depart¬ 
ment was charged with superintending, by a resolution of the Senate of 
3836. 

I have been at some loss -to determine the extent of the ground which 
I he resolution, taken altogether, was intended to cover, but have finally 
included that these statements give substantially all that is required. 

; air & Rives, Printers. 






They contain, it is believed, a full statement of all the moneys under the 
control of the Government, held in trust for Indians. It is true that there 
are balances in the Treasury, and, in some instances, in the hands of dis¬ 
bursing officers, which may, strictly speaking, be said to “ belong to In¬ 
dians/' being appropriations for making payments, or effecting objects, which 
have not been made or accomplished, owing to a variety of causes, which 
it is impracticable now to state. Should it be attempted to comply with 
the resolution, in its broadest construction, in respect to these balances, 
giving names, dates, amounts, and other particulars, an extent of research, 
investigation, and of time would be required, entirely beyond the ability of 
this office with its limited force to bestow, so as to furnish the information 
in any reasonable space, and, at the same time, keep up the current busi¬ 
ness. The portions of these moneys in the hands of disbursing officers are 
in small sums, and applicable to a variety of objects, and under various 
heads of appropriation ; many of them of several years’ standing. Since 
the suspension of specie payments in May last, they have been directed, in 
accordance with the President’s order of the 26th of May last, a copy of 
which is herewith enclosed, to keep their funds deposited in specie paying 
banks, if there be any convenient, and if not, in such other banks as will 
give security to the satisfaction of the district attorney. 

Than as above stated and referred to, it is not known or believed that 
there is now “ in the hands or under the charge of the department, or of 
the Commissioner of Indian Affairs, or any other officer or person attached 
to, or connected with, the War Department,” any money “ belonging to 
any Indian, or tribe, or band of Indians, or Indian traders.” 

If the information here communicated be not as full, or cover as 
much ground as desired, whatever is wanted, in addition, shall be furnish¬ 
ed, at the earliest practicable moment. 

Very respectfully, 

Your most obedient servant, 

C. A. HARRIS, 

Commissioner. 


Capt. S. Cooper, 

Acting Secretary of War . 


STATEMENT 


EXHIBITING 


THE AMOUNT OF INVESTMENTS, 


FOR INDIAN ACCOUNT, 


IN STATE STOCKS. 




[ 426 ] 4 

STATEMENT exhibiting the amount of investments for Indian ac 

in obedience to the resolution of the 


Names of the tribes, 
&e. for whose ac¬ 
count, the stock is 
l.eld in trust. 

Names of the States 
which issued the 
bonds. 

When the pur¬ 
chase was made. 

Rate of purchase. 

Rate of interest. 

When the interest 

is payable. 

Where the interest 

is payable. 

Number of bonds. 

Cherokee schools - 

Md. 

1833 

3 per ct. 

5 p. c. 

Quarterly 

Baltimore - 

2 

Do. 

Mo. 

Nov. 1837 

prem. 

Par 

51 p. c. 

H’lf yearly 

New York - 

10 

Pottawatamies, Ot- 
towas, and Chip- 
pe was, education. 

Ind. 

Ap’l 1836 

7 per ct. 
prem. 

5 p. c. 

do. 

do. 

68 

Pottawatamies, Ot- 
towas, and Chip- 
pewas,mills, &c., 
for them. 

Md. 

Jan. 1837 

14f p. ct. 
prem. 

6 p. c. 

Quarterly 

Baltimore - 

3 

Cherokees 

Ky. 

July 1836 

Par 

5 p. c. 

H’lf yearly 

Philadelphia 

94 

Do. 

Tenn. 

do. 

Par 

do. 

do. 

do. 

250 

Do. 

♦Ala. 

Aug. 1836 

Par 

do. 

do. 

New York - 

300 

Do. 

Md. 

Oct. 1836 

15| p. ct 

6 p. c. 

Quarterly 

Baltimore - 

1 

Do. 

Mich. 

Nov. 1836 

prem. 

8 per ct. 
prem. 

do. 

H’lf yearly 

New York - 

64 

tlncompetentChick- 

asaws. 

Ind. 

July 1836 

Par 

5 p. c. 

do. 

do. 

5 

Do. 

N. Y. 

Oct. 1836 

2 p.c. dis. 

do. 

Quarterly 

do. 

1 

Do. 

Md. 

do. 

15.40 per 
ct.prem. 

6 p. c. 

do. 

Baltimore - 

4 

Do. 

Ind. 

Jan. 1837 

lip.c.dis. 

5 p. c. 

H’lf yearly 

New York - 

53 

Do. 

Ky. 

do. 

2 p.c. dis. 

do. 

do. 

Louisville - 

80 

tShawanees 

Md. 

Oct. 1836 

14£ p. c. 

y\ ppm 

6 p. c. 

Quarterly 

Baltimore - 

2 

Do. 

Ky. 

Ap’l 1837 

pi t/LJJ. 

2 p.c. dis. 

5 p. c. 

H’lf yearly 

New York - 

1 


♦Alabama $300,000. The original purchase was by the Secretary of the Treasury, in bondsp 
of the Executive of the latter State, these North Carolina bonds were exchanged for an equal M 
1 Incompetent Chickasaws. Composed of 360 individuals, having separate interests and forv 
tSbawanees. This tribe is entitled per treaty to five per cent, annually on amount of sales ofd 
14th June, 1836, investments were made as here stated, the interest arising thereon being suffix 

r 























5 


[ 426 J 

"•'a*-*-***— 


Am’t of the 
face of the 
bonds. 

Am’t of the 
actual cost 
ofthe bonds 

When redeemable. 

By what officer the 
purchase was made. 

SI 1,138 OC 

$42,490' 0C 

1848 or at pleasure of 
the State. 

Secretary of War - 

10,000 01 

10,000 OC 

1862 

Com. Indian Affairs 

51,138 0C 

52,490 0C 

. 


68,000 0C 

72,264 09 

1860 or 1875, at the 

Secretary of War - 



option of the Stale. 

130,850 43 

150,000 00 

Pleasure of State af- 

Com. Indian Affairs 



ter 1870. 


94,000 00 

94,000 00 

1866or 1871, at the 

Sec. of Treasury - ^ 

250,000 00 


option of the State. 

250,000 00 

1858 and' 1863 

Do. 

300,000 00 

300,000 00 

1866 

Do. - C 

Do. 

761 39 

880 00 

Pleasure of State af¬ 

64,000 00 


ter 1870. 

69,120 00 

May, 1856 - 

Do. - j 

708,761 39 

714,000 00 



5,000 00 

5,000 00 

1855 or 1865, at plea¬ 

Do. 

30,000 00 

29,729 17 

sure of the State. 
Pleasure of State af¬ 

Do. 


ter 1845. 


131,230 44 

151,479 06 

1870 or atpleasure of 

Do. 



the Stare. 


53,000 00 

150,000 00 

52,291 89 

1866 or 1886, at plea¬ 
sure of State. 

Do. 

146,375 00 

1855 to 1871 

Do. 

369,230 44 

384,875 12 



29,341 50 

33,912 40 

• 

Pleasure of State af¬ 

Do. 

ter 1870. 


1,000 00 

980 00 

1872 

Com. Indian Affairs 

30,341 50 

34,892 40 




Treaties under which 
the investments 
were made. 


Treaty Feb. 27,1819. 
Do. 


Treaty Sep.26,1833. 
Do. 


Treaty Dec. 29,1835 
and supplementary 
articles of March 
1,1836. 


Treaty May 24,1834. 
Do. 

Do. 

Do. 

Do. 


Treaty Aug. 8,1831. 
Do. 


r the State of North Carolina on 1st August, 1836, but on the 7th March, 1837, on the request 
mount of bonds of the State of Alabama, being of the same general tenor, date, &c. 
hom separate accounts arc opened. 

eir lands, after certain deductions are made, as enumerated in the treaty. Under the act of 
ent to pay the five per cent, in question. 


































[ 426 


6 


STATEMENT 


Names of the tribes 
for whose account 
the stock is held 
in trust. 

Names of the States 
which issued the 
bonds. 

When the purchase 

was made. 

Rate of purchase. 

Rate of interest. 

When the interest 

is payable. 

Where the interest 

is payable. 


Number of bonds. 

Creek orphans 

Ala. 

Nov. 

1836 

Par 

5 p. c. 

H’lf yearly 

New York 

- 

82 

Do. 

Mo. 

Sept. 

1837 

3,441 per 
c. prem. 

51 p. c. 

do. 

do. 


28 

Menominies 

Ky. 

Ap’l 

1837 

2p.e. dis. 

5 p. c. 

do. 

do. 

- 

49 

Chippewas and Ot- 

Ky. 

do. 

do. 

do. 

do. 

do. 

- 

49 

towas. 










♦Senecas - 

Ky. 

do. 

do. 

do. 

do. 

do. 

- 

4 

Do. 

Ky. 

Nov. 

1837 

do. 

do. 

do. 

do. 


1 

♦Senecas & Shawa- 

Ky. 

Ap’l 

1837 

do. 

do. 

do. 

do. 

m 

6 

nees. 





do. 



Do. 

Mo. 

Sept. 

1837 

3.441 per 
c. prem. 

51 p. c. 

do. 


7 

tChickasaworphans 

Ark. 

July 

1837 

Par 

5 p. c. 

do. 

do. 


100 

Do. 

Ark.' 

Jan. 

1838 

Par 

do. 

do. 

do. 


15 

Kanzas schools - 

Mo. 

Nov. 

1837 

Par 

51 p. c. 

do. 

do. 

Aggregate amo 

18 

unts - 


♦Senecas, and Senecas and Shawanees. These tribes are entitled per treaty to five per cent, 
the treaty. Under the act of 14th June, 183(5, investments were made as here stated, the inter 
tChickasaw orphans. Composed of 77 individuals, having separate interests, and for whom 

GENERAL 

All these bonds are in the name of “ the Secretary of War for the time being.” They are 
The purchases of these stocks were made on the best terms the market would admit of at the 
obtained by individuals, as the holders were generally desirous of selling to the department. 

In some of the cases where the purchases were made by the Secretary of the Treasury, a 
year was deducted in settlement for the purchase of the bonds: for example, the lot of $ 15,000 
that date to 1st January, 1838, was deducted in settlement for the purchase, leaving $14,932 20 
1st January, 1838. But the second column of dollars and cents is, as stated, the actual sumspaid. 

In most of the cases, the full amount has been invested, to which the parties concerned were 
sury of the United States.) In such cases, there are more lands to be sold, and of course fur 
nees, Kanzas schools, and Chickasaw orphans. 

The interest which has been received on the stocks alluded to in this table, has, in part, been 
is $34,605 90, is deposited in the Bank of America, New York, subject to the drafts of the dis 
drafts to draw it out must be countersigned by the Secretary of War, and the Commissioner of 
ceipt and payment out again. 

Office Indian Affairs, May 3, 1838. 
























7 


[ 426 ] 


II 


—Continued. 


Am’t of the 
face of the 
bonds. 

Am’t of the 
actual cost 
of the bonds. 

When redeemable. 

By what officer the 
purchase was made. 

Treaties unde r which 
the investments 
were made. 

$82,000 00 

$82,000 00 

1866 or after, at option 

Com. Indian Affairs 

Treaty Mar. 24, ’33. 



of the State. 





28,000 00 

28,487 48 

1862 

- 

- 

Do. 

- 

Do. 

110,000 00 

110,487 48 







77,000 00 

75,460 00 

1872 

- 

- 

Do. 

- 

Treaty Sept. 3,1836. 

77,000 00 

75,46C 00 

1872 

- 

- 

Do. 

- 

Treaty Mar. 28,’36. 

4,000 00 

3,920 00 

1872 



Do. 

_ 

Treaty Feb. 28, ’31. 

1,000 00 

980 00 

1872 

- 

- 

Do. 

- 

Do. 

5,000 00 

4,900 00 







6,000 00 

5,880 00 

1872 

- 

- 

Do. 

- 

Treaty July 20, ’31. 

7,000 00 

7,121 87 

1862 

- 

- 

Do. 

- 

Do. 

13,000 00 

13,001 87 




« 



100,000 00 

100,000 00 

1887 

. 

. 

Do. 

. 

Treaty May 24,’34. 

15,000 00 

14,932 20 

1887 

- 

- 

Do. 

■ 

Do. 

115,000 00 

114,932 20 







18,000 00 

18,000 00 

1862 

- 

- 

Do. 

- 

Treaty June 3, 1825. 

1,773,321 76 

1,820,763 16 








annually on amount of sales of their lands after certain deductions are made, as enumerated in 
est arising thereon being sufficient to pay the five per cent, in question, 
separate accounts are opened. 

remarks. 


keot in a fire proof chest in one of the rooms of the office of Indian Affairs. 

time of the transactions; and, it is believed, were effected on better terms than could have been 


broker’s commission was allowed; and in many instances the interest for fractional parts of the 
fnr “Chickasaw orphans,’’was purchased 29th November, 1837, the interest accruing from 
actually paid; consequently the interest on this lot, for the benefit of the orphans, comments 


entitled In a few instances there are small balances yet to be invested (which are in the Trea¬ 
ter investments will in due time be made; for example, Senecas and Shawanees, Shawa- 


ipplied to the appropriate objects. The aggregate amount unexpended but soon to be applied, 
JSKina agent (in Washington) for the Indian Department, Major T. P. Andrews, whose 
Indian Affairs. It could not be placed in the Treasury for want of a law authorizing its re- 

C. A. HARRIS, Com. 





























[ 426 ] 


8 


Treasury Department, 

April 11, 1838. 

Sir : Your letter of yesterday, requesting a statement to be furnished j 
to you exhibiting all the particulars called tor by the second section of the | 
resolution of the Senate of the 30th ultimo, relating to Chickasaw or any 
other investments held in trust by the Treasury Department, has been 
received. The only stocks held in trust by this department, for Indians, 
are those purchased for the Chickasaws. The amount received, agreeably 
to the returns made by the receiver at Pontotoc, to the 1st of January last, 
is $2,498,000 06; of which sum there has been paid, for State stocks, 
$2,028,678 54, which includes what was paid for principal, premiums, and 
commissions. Ail the stocks purchased were issued by the States, and are 
as follows: 


Number of 
bonds. 

Interest where 
payable. 

Interest when 
payable. 

Times 

redeem¬ 

able. 

Rate. 

Amount 
of each. 

Total. 

125 Tenn. 

Philadelphia 

1st Jan’y & July 

1848 

5 p. cent. 

$1,000 

$125,000 00 

125 do. 

Do. 

Do. 

1853 

5 

do. 

_ 

125,000 00 

G5 do. 

Treasurer’s office, 
Tennessee. 

25th Jan’y & July 

1861 

5* 

do. 

- 

65,000 00 

1 do. 

Do. 

do. - 

Do. 


5i 

do. 

_ 

1,666 66 

65 Ala. 

Phoenix Bank, N. 
York'. 

1st Monday May 
& November. 

1852 

5 

do. 

1,000 

65,000 00 

250 do. 

Do. 

do. - 

Do. 

1865 

5 

do. 


250,000 00 

500 do. 

Union Bank, New 
Orleans. 

1st Monday June 
& December. 

- 

5 

do. 

- 

500,000 00 

500 do. 

Commercial Bank, 
New Orleans. 

Dd. 

1866 

5 

do. 

- 

500,000 00 

161 Ind. 

New York 

1st Jan. & 1st July 

1857 

5 

do. 


161,000 00 

41 do. 

_ 

_ 

_ 

5 

do. 


41,000 00 

3 Ohio 

- 

- 

1856 

6 

do. 

35,000, 

15,000, 

&50,000. 

100,000 00 

1 Md. 

Baltimore 

8th Feb. & August 

adlibi’m 

5 

do. 

30,091 80 

1 do. 

Do. 

Do. 

1849 

5 

do. 


13,000 00 

1 do. 

Do. 

Do. 

1844 

5 

do. 


11,233 00 

1 do. 

Do. 

1st Jan. & q’rterly 

Amount of sto 

1870 

cks held 

6 do. 

for Chic 

kasaws 

6,149 57 

1,994,141 03 


These stocks were purchased, from time to time, immediately after the 
money was received, and were obtained at the lowest rate they could be 
had in market at the time of purchase. The first lot of Alabama bonds 
were purchased the 31st of March, 1836, for which there was paid a 
premium of four and a half per cent. The contract for five hundred 
other Alabama bonds was made immediately after at four per cent, advance 
the money to be received as the sales progressed. The other five hundred 
Alabama bonds were purchased the 29th of March, 1837, at one per cent, 
off. The two hundred and fifty Alabama bonds were received the 7th of 
May, 1836, at three and a half per cent, advance. The whole of the 
Tennessee bonds were purchased at par. The Ohio bonds at 11 _t_ per 
cent, advance. Part of the Maryland bonds at three per cent, off; part at 
one per cent, off; the last one at 14 T 4 /„ S ¥ advance. 

BD 12.8 
















9 


[ 426 ] 


$106,149 57 of the stocks yield 6 per cent, interest. 

66.000 66 « “ 5£ « « 

1,821,324 80 « « 5 “ « 


There was in the Treasury, on the 1st of January last, a balance in 
favor of the Chickasaws of $60,654 39, and at the same time the receiver 
at Pontotoc returned, as in his hands, $49,794 28; from which moneys 
there is to be reimbursed to the United States Treasury, for advances 
made to enable those having charge of the removing Chickasaws, to 
progress in that service, the sum of $100,000. The money in the Treas¬ 
ury, above specified, is mixed up in the general fund ; that in the hands 
of the receiver at Pontotoc is in his custody, subject to draft when it 
can be used. The security on the official bond of the receiver is consid¬ 
ered ample for the amount he reports to be in his hands. 

I am, respectfully, 

Your obedient servant, 

LEYI WOODBURY, 
Secretary of the Treasury. 


C. A. Harris, Esq., 

Commissioner of Indian Affairs. 


2 



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